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Building a Better Loyalty Program (and the Reward for Getting It Right)

BlueOcean

Check your wallet (digital and/or physical) – do you have loyalty cards for your favorite retail outlets? Salesforce research says consumers like us belong to 4.3 loyalty programs on average. McKinsey agrees, saying that “earn and burn” transactional rewards programs aren’t enough to retain loyal members.

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Consumer banking: money can’t buy loyalty

Currency Alliance

Many consumers now ‘multibank’[iii], keeping their traditional provider on-hand for the same reasons they always did, but branching out in search of enhanced value. In 2000, UK consumer bank Halifax launched a fairly successful marketing slogan: the people that give you extra [iv]. Actually, they do. Extra what?

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Loyalty programs: should you issue your own points or miles?

Currency Alliance

But most types of retailer, other than grocery or fuel, can only expect 10-20% of total customers to commit to this level of spending. That is why Walmart might collaborate with fuel retailers, insurance companies, travel agencies, pharmacies, or construction hardware companies. Is your business above this threshold, or below?

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Are Loyalty Cards Dead?

Beyond Philosophy

If you’re like me, you have loyalty cards for three different supermarkets, a half dozen airlines, several hotels, a dozen or so assorted retailers and the local frozen yogurt shop. No of course not, and that’s the problem with calling these pieces of plastic “loyalty cards.” As I’ll discuss later, most consumers are a lot like me.

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10 Cool Chatbot Examples to Inspire Your Project

Inbenta

Chatbot examples in the retail industry. TravelClub is the leader reward program in Spain with over 6 million subscribers. Of course, personality is also seen in conversations and more, but just by calling the chatbot Laura and adding a small image, it already conveys a more human image of the bot. Gol Airlines.

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Winning customer loyalty

Service Untitled

Entrepreneur magazine writer Micah Solomon stated there are several important elements retailers need to concentrate on in order to gain customer loyalty. Many retailers have recognition and reward programs. Those become the retailers who win my customer loyalty. photo credit: variationblogr.

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Innovators break the mould, at the 2020 Loyalty Magazine Awards

Currency Alliance

While travel and retail brands have made a lot of progress in the last 24 months, the bulk of innovation has come from other consumer sectors – including media businesses, entertainment, and telecoms providers, which in recent years appeared to regard loyalty as a lost cause. A disloyal generation?

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